Deals
Alibaba’s Tsai to Buy Brooklyn Nets and Barclays Arena for $3.5 Billion
- Joe Tsai had previously bought 49% of Brooklyn basketball team
- Brett Yormark resigns as CEO of team’s, arena’s parent company
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There’s a new owner of the Brooklyn Nets.
Alibaba Group Holding Ltd. Executive Vice Chairman Joe Tsai exercised his option to buy the rest of the team that he didn’t already control -- along with the Barclays Center arena -- ending Mikhail Prokhorov’s ownership tenure and bringing another deep-pocketed international presence to the National Basketball Association.